Allegheny Tech profit slips, ses 1Q net similar to 4Q's

GregMorcroft

NEW YORK (MarketWatch) -- Allegheny Technologies Inc.
ATI, -3.63%
said Wednesday that its fourth quarter net income was $148.9 million, or $1.45 a share, on sales of $1.27 billion. In the fourth quarter 2006, ATI reported net income of $163.1 million, or $1.59 a share, on sales of $1.40 billion. "At this point, we believe first quarter 2008 results are likely to be similar to those achieved in the fourth quarter 2007. We remain optimistic about 2008. However, we expect to have a better understanding of the potential upside for the balance of 2008 once we get beyond the first quarter," L. Patrick Hassey, chairman and CEO said in a Wednesday press release.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.